A total of N240.98bn was lost by the Nigerian National Petroleum Corporation (NNPC) between January and October this year, according to the latest figures from the firm’s oil and gas report for October 2015.
According to The Punch, the NNPC made a total revenue of N1.71tn and group expenses of N1.95tn during the period under review. The report noted that the firm’s loss for the month of October alone was N12.22bn, down from N46.49bn recorded in September 2015.
Similarly, in the month of October, the country’s refineries lost a combined sum of N7.06bn as against N11.38bn lost in the preceding month of September. The refineries also recorded zero capacity utilisation in the month of October.